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Anna G's Avatar
published in Blogs
Mar 24, 2021
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Zomedica (ZOM, $1.80) shares shed -28% on first sale of Truforma

Zomedica's shares have lost around -28% of their value since the company announced the first sale of its Truforma system on March 16.

Truforma is a  diagnostic platform for dogs and cats, and is Zomedica's first commercial product. On Nov. 13, Zomedica first announced its plans to commercialize Truforma leading to investors driving the company's stock price by +2,600%! Following the massive rally,  many investors apparently decided to take some of their gains off the table on Zomedica's first sale.

Zomedica's announcement of its first sale probably made investors wary of the risks of investing in an early-stage growth company, and therefore they decided to take some of their profits from the stock.

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